Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have earned an average recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.50.

Several research firms recently issued reports on SCHN. Macquarie began coverage on Schnitzer Steel Industries in a report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price objective on the stock. TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a report on Friday, June 30th. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Friday, July 21st. ValuEngine downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday. Finally, BidaskClub downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th.

Schnitzer Steel Industries (NASDAQ:SCHN) opened at 26.15 on Friday. The company has a market cap of $721.74 million, a P/E ratio of 17.00 and a beta of 1.33. The stock’s 50 day moving average price is $25.89 and its 200-day moving average price is $22.39. Schnitzer Steel Industries has a 52-week low of $17.43 and a 52-week high of $30.60.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Monday, June 26th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $477.00 million for the quarter. Schnitzer Steel Industries had a return on equity of 8.34% and a net margin of 2.68%. Schnitzer Steel Industries’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, equities analysts predict that Schnitzer Steel Industries will post $1.47 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were issued a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.75 annualized dividend and a dividend yield of 2.87%. Schnitzer Steel Industries’s dividend payout ratio is presently 49.02%.

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Several hedge funds have recently bought and sold shares of SCHN. Dimensional Fund Advisors LP grew its stake in Schnitzer Steel Industries by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,270,696 shares of the basic materials company’s stock worth $46,890,000 after purchasing an additional 18,355 shares in the last quarter. State Street Corp grew its stake in Schnitzer Steel Industries by 1.6% during the 2nd quarter. State Street Corp now owns 1,344,366 shares of the basic materials company’s stock worth $33,877,000 after purchasing an additional 20,636 shares in the last quarter. Rutabaga Capital Management LLC MA grew its stake in Schnitzer Steel Industries by 69.4% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock worth $22,467,000 after purchasing an additional 365,259 shares in the last quarter. Heartland Advisors Inc. grew its stake in Schnitzer Steel Industries by 7.1% during the 2nd quarter. Heartland Advisors Inc. now owns 711,995 shares of the basic materials company’s stock worth $17,942,000 after purchasing an additional 47,447 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Schnitzer Steel Industries by 24.8% during the 2nd quarter. Teachers Advisors LLC now owns 595,951 shares of the basic materials company’s stock worth $15,018,000 after purchasing an additional 118,453 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

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